VIX index is an index which gauges volatility. Volatility is a main component of option pricing. So, the higher the volatility, the higher the option price and vice versa.
Better definition here:
VIX - CBOE Volatility Index
If you want to make $$ directly off the VIX, there are options and futures available for you to play with. If you deal in large size, best to be in the OTC market since the listed markets are not very liquid...
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